Construction Aggregates Market Is Anticipated To Witness High Growth Owing To Increasing Infrastructure Development Activities

Construction Aggregates Market

The construction aggregates market comprises crushed stone, sand, gravel, and slag used mainly for construction purposes. Some key properties of construction aggregates including large particle size, high particle density, durability, and resistance to wear lead to their extensive use as a base material for construction of roads, buildings, bridges, and other infrastructure. Rapid population growth and urbanization have increased the need for infrastructure development, housing, and commercial construction around the world. Subsequently, the demand for construction aggregates to be used in concrete and asphalt production is also growing.

The Global construction aggregates market is estimated to be valued at US$ 608.36 Bn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the construction aggregates market are Sika Ag, Trelleborg Ab, Henkel Ltd., Flexcon Company, Inc, Nitto Denko Corporation, Pyrotek Inc., Vibratec, Autoneum, Rousch, Avery Dennison Corporation, American Acoustical Products, Polymer Technology Inc. Soundown Corporation, Heathcote Industrial Plastics, Vibracoustic Gmbh, Megasorber Pty Ltd, and 3M. These players are focusing on innovations and new product launches to gain a competitive edge in the market.

The Construction Aggregates Market Demand  provides many opportunities for players to expand their business such as rising demand for sand and gravel from the Asia Pacific region due to growing construction needs. Countries like China and India are witnessing a boom in the real estate and infrastructure sectors offering new prospects. Additionally, rebuilding activities across Europe post the COVID-19 pandemic have opened up wider prospects.

Market Drivers

The rapid growth of the construction industry globally is a major driver fueling demand for construction aggregates. According to the Global Construction 2030 report by Global Construction Perspectives and Oxford Economics, the volume of construction output worldwide is forecast to increase by 85% to $15.5 trillion by 2030. This rise in construction activities will generate huge requirements for crushed stone, sand, and gravel in concrete and cement production.

Market Restrains

Stringent mining regulations and environmental impact of quarrying activities pose a key challenge to the expansion of the construction aggregates industry. Excessive mining can damage land and impact nearby water bodies adversely. Therefore, governments have imposed strict environmental norms for mining and transportation of aggregates that increase operational costs. The industry also faces issues regarding scarcity of high-quality aggregates in certain locations requiring imports over long distances.

Segment Analysis

The Construction Aggregates Market Challenges And Opportunities can be segmented based on product type into crushed stone, sand, gravel and others. Among these crushed stone accounts for the largest market share as it is widely used in construction of roads, buildings and other infrastructure. Crushed stone has high compressive strength and durability which makes it suitable for use in concrete and asphalt production. The crushed stone segment is expected to remain dominant during the forecast period owing to rising infrastructure development activities across the globe.

Global Analysis

On the basis of region, Asia Pacific holds the dominant share in construction aggregates market and is estimated to maintain its leading position throughout the forecast period. Rapid industrialization and urbanization along with growing population is driving large scale infrastructure projects in countries like China and India. This in turn is boosting the demand for construction aggregates in the region. Europe is another major consumer of construction aggregates owing to presence of well-established construction industry and stringent norms regarding infrastructure development. The construction aggregates market in North America is dominated by United States and is expected to witness steady growth due to ongoing investments in transportation sector.

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

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